Trump vows to buy Tesla as stocks decline
Tesla's stock has dropped 15%, marking its worst decline since September 2020. The shares are now down 50% from their peak, costing Elon Musk $18 billion in net worth, which has fallen to $324.6 billion. Sales of Tesla vehicles are declining in the European Union, where competition from Chinese manufacturers is increasing. Vandalism at Tesla facilities in the U.S. has also been reported amid protests in Europe. President Trump has publicly supported Musk, stating he will buy a new Tesla to show confidence in the company. He criticized those opposing Musk and linked economic issues to his policies, coining the term "Trumpcession."